Vehicle loan or lease -- Repossession -- Complaint #14007545
Complaint Overview
Complaint ID: 14007545
Company: Carmax, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: California
ZIP Code: 906XX
Date Received: 2025-06-10T12:00:00-05:00
Date Sent to Company: 2025-06-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am a co-buyer on a car purchased from Carmax. The main buyer stopped making payments and stopped being cooperative with me, that's when carmax started calling me for payment. The main buyer failed to update registration and that's when the car was impounded to a tow yard. I was unaware of the whereabouts for the main buyer and the car hence my communication with Carmax about trying to find the vehicle. Attached is a lien sale for the vehicle that was auctioned without my knowledge. In this attachment it states that Carmax was notified of the date the car was impounded and the date of possible sale. Carmax has my address and phone number on file and they were notified on XX/XX/year> from the tow company, while I was in communication with them they failed to inform me that the car was impounded even after I asked questions about if the car had been turned in or towed. It was only on XX/XX/year> that they gave me a phone number and location of the cars whereabouts, when I called the XXXX XXXX tow yard they let me know that the car was auctioned on XX/XX/year> because no one claimed the vehicle. Had I been notified I would have picked up the car and made payments to help my credit and get the vehicle in good standing. Now they expect payment for the loan along with the late fees. This information should have been provided to me as a legal owner of the car especially since Carmax was notified of the impound. Carmax failed to disclose the information that they received from the Tow company and I was never given the opportunity to reclaim and take full ownership of the vehicle.
Frequently Asked Questions
What is Complaint #14007545 about?
Complaint #14007545 was filed against Carmax, INC. regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2025-06-10T12:00:00-05:00.
How did Carmax, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Carmax, INC.?
Yes, visit the Carmax, INC. company profile at readthecomplaint.com/company/carmax-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.